Even sets target for spin-off

Even sets target for spin-off

Capital Markets Corporate & Sovereign Strategy Equity IPO Rule 400 Brazil Latin America

Brazilian homebuilder Even Construtora e Incorporadora is aiming to raise up to BRL1.1 billion ($207 million) from the initial public offering (IPO) of its subsidiary Melnick Even Desenvolvimento Imobili√°rio after setting the target price range at BRL8.50 to BRL12.50 per share. Melnick Even plans to list at least 98.6 million shares on the local stock exchange, including 73 million new shares and 25.6 million existing shares, but it could increase the size of the primary offering by 20%, or 14.6

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